The Drugs Controller General of India, Dr. V. G. Somani said on Friday that the center is getting ready to launch a research-linked incentive programme that will be modelled after the Production-Linked Incentive (PLI) scheme to encourage the nation’s biotech product research and development, as per PTI.
The PLI scheme seeks to reward businesses for increased sales of goods produced domestically.
Somani, who oversees India’s top drug enforcement organisation Central Drugs Standard Control Organisation (CDSCO), claimed that the achievements of the country’s pharmaceutical industry during the COVID years were a significant benefit to society.
“Firstly, the urgency to identify the virus (coronavirus) and secondly to develop vaccine, medicines, and diagnostics for COVID-19 was not an ordinary challenge. But, with the encouragement from Prime Minister Narendra Modi, the Indian pharmaceutical industry accepted this challenge and successfully developed the vaccine that not only saved millions of lives in India but also in several other parts of the globe,” said Somani.
In order to support innovative research and create suitable ecosystems, the government has launched a number of measures, he added, underscoring the significance of policy reforms, innovation, and research and development.
According to Somani, the Center is “all set” to create a research-linked incentive (RLI) scheme to cover “R&D costs for biotech products” in order to strengthen the capacities of the domestic pharmaceutical industry and aid in its establishment on the global market.
According to Somani, the pharmaceutical business has seen a number of regulatory reforms, and several pharmaceutical firms are re-evaluating their approaches to drug development and regulatory approval.
“Introduction of new Indian Pharmacopoeia 2022 and several amendments in rules for drugs and medical devices have been done to establish a dynamic pathway for ensuring patient safety while encouraging the growth of the sector,” he said.